Northern Trust (NASDAQ:NTRS) Given New $107.00 Price Target at Royal Bank of Canada

Northern Trust (NASDAQ:NTRS) had its price objective hoisted by equities researchers at Royal Bank of Canada from $100.00 to $107.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 4.70% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group upped their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $98.17.

Northern Trust Trading Down 0.3 %

Shares of NASDAQ NTRS traded down $0.31 during midday trading on Thursday, reaching $102.20. The stock had a trading volume of 622,629 shares, compared to its average volume of 1,304,099. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. Northern Trust has a twelve month low of $62.44 and a twelve month high of $104.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50 day moving average price is $90.51 and its 200 day moving average price is $86.53.

Insider Buying and Selling

In related news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,738 shares of company stock worth $1,191,388. Insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares during the period. Primecap Management Co. CA lifted its stake in Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after acquiring an additional 261,285 shares during the period. Ariel Investments LLC lifted its stake in Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after acquiring an additional 91,816 shares during the period. Dimensional Fund Advisors LP lifted its stake in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Northern Trust by 2.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after acquiring an additional 26,984 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.